Chen Gang and the Rise of ETCWin: A Visionary in the Blockchain Space

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In the fast-evolving world of blockchain and digital currencies, few figures have combined technical expertise with entrepreneurial foresight as effectively as Chen Gang, co-founder of ETCWin. As one of China’s earliest certified system architects and a seasoned serial entrepreneur, Chen Gang has played a pivotal role in shaping a unique ecosystem built on the Ethereum Classic (ETC) blockchain. His journey from traditional fintech to pioneering decentralized innovation offers valuable insights into the transformative power of blockchain technology.

From Fintech to Blockchain: A Strategic Pivot

Chen Gang’s career began in the tightly regulated world of third-party payments, where he founded Youyin Financial in 2013. With deep experience in e-commerce, banking institutions, and air ticketing systems, he gained firsthand knowledge of how policy shifts could instantly disrupt years of business development.

“In third-party payments, everything follows policy. One regulatory change can erase five years of effort. But with blockchain, we can build financial systems that operate independently—this is what truly excites us.”

This frustration with centralized control became the catalyst for his shift toward blockchain. Starting in July 2015, Chen and his team began researching distributed ledger technologies. Rather than jumping straight into trading or investment, they chose to enter through mining—a foundational layer of the crypto economy.

👉 Discover how early blockchain adopters are reshaping digital finance today.

Building on Ethereum Classic: A Commitment to Decentralization

In March 2016, ETCWin launched its mining operations, initially focusing on Bitcoin (BTC) and Ethereum (ETH). However, after the Ethereum hard fork in 2016, the team made a strategic decision to pivot exclusively to Ethereum Classic (ETC)—a move rooted in both technical conviction and philosophical alignment.

Unlike Ethereum’s planned transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), ETC remained committed to PoW, preserving decentralization and miner participation. Chen Gang and his team strongly believed that PoW offers superior security, fairness, and resistance to centralization, making it the ideal foundation for a trustless financial system.

Their commitment paid off. By operating one of the largest ETC mining pools—91pool—the team achieved over 70Gh/s of hashing power, accounting for more than 10% of the global ETC network. Mining facilities in Shanghai and Chengdu solidified their position as key infrastructure players in the ETC ecosystem.

Launching ETCWin: The First ETC-Centric Exchange

In October 2016, Kuoyue Technology, based in Shanghai, officially launched ETCWin (Biying Network)—the world’s first digital asset exchange to use ETC as the base trading pair. This meant users could trade other cryptocurrencies and ERC20-style tokens against ETC, creating new liquidity pathways for the often-overlooked chain.

The platform wasn’t just an exchange; it was envisioned as a comprehensive blockchain ecological value platform with three core components:

  1. Digital Currency Trading Platform – Catering to crypto enthusiasts and traders.
  2. Digital Asset Exchange – Designed for future digital property rights, tokenized assets, and NFT-like use cases.
  3. ICO Service Platform – Supporting blockchain startups by providing fundraising, compliance, and technical infrastructure.

This tripartite model reflected Chen Gang’s broader vision: to build not just a product, but an entire decentralized financial ecosystem anchored in transparency, openness, and shared value.

Crowdfunding Success and Global Recognition

On October 17, 2016, ETCWin launched a public crowdfunding campaign targeting 80,000 to 160,000 ETC, offering between 21.7% and 48.7% of project revenue rights. Within days, the campaign attracted support from 238 contributors, raising 1,022,500 ETC—exceeding its goal by 127.81%.

The success demonstrated strong community confidence in both the team and the ETC network. Just weeks later, on December 6, 2016, the native utility token WIN debuted on BitMEX as a futures contract. It surged over 50% on its first day, drawing attention from global markets.

Arthur Hayes, then CEO of BitMEX, praised the project:

“I believe the Chinese community has great passion for ETC. ETCWin is a credible project built on ETC. WIN will see strong demand—the success of its futures market will spotlight future ETC-based projects and help grow the entire industry.”

Expanding the Vision: The 2017 Roadmap

At the “Coin With You, Prosper Together” event in Shanghai on December 18, 2016, Chen Gang unveiled ETCWin’s 2017 development roadmap—a dual-track strategy focusing on infrastructure building and real-world applications.

Infrastructure Initiatives:

Application Development & Incubation:

Chen emphasized that blockchain’s true value lies in adoption. To that end, ETCWin committed to exploring partnerships across multiple industries:

Several of these collaborations had already reached signing stage, with exclusive agreements in place—signaling early traction beyond speculative trading.

👉 See how blockchain is transforming real-world industries beyond finance.

WINChain: Transitioning Toward a Public Chain Future

By August 31, 2017, ETCWin announced a major evolution: the WINChain Public Chain Initiative.

This marked a shift from being an exchange-centric platform to becoming a full-stack blockchain infrastructure provider. Key features included:

Critically, the old WIN tokens would be repurchased at a premium, protecting early investors while funding long-term development.

Frequently Asked Questions (FAQ)

Q: Who is Chen Gang?
A: Chen Gang is a veteran fintech entrepreneur and co-founder of ETCWin. He was among China’s first certified system architects and previously founded Youyin Financial in 2013 before transitioning into blockchain innovation.

Q: What is ETCWin?
A: ETCWin (also known as Biying Network) is a blockchain ecosystem platform built on Ethereum Classic (ETC). It includes a cryptocurrency exchange, ICO services, digital asset trading, and later evolved into the WINChain public blockchain project.

Q: Why did ETCWin choose Ethereum Classic over Ethereum?
A: The team prioritized decentralization and long-term network integrity. They opposed Ethereum’s shift from PoW to PoS, believing PoW better ensures fairness and security—core values aligned with ETC’s philosophy.

Q: What happened to the original WIN token?
A: The original WIN token was part of a crowdfunding initiative on the ETC network. As part of the WINChain upgrade, it was scheduled to be replaced by a new WIN token on a dedicated public chain, with old holders eligible for premium buyback.

Q: Is ETCWin still active today?
A: While specific operational status may vary over time due to market dynamics, ETCWin made significant contributions during the 2016–2017 blockchain boom, particularly in advancing ETC adoption and infrastructure development.

Q: How did ETCWin impact the blockchain space?
A: ETCWin helped demonstrate practical use cases for Ethereum Classic beyond speculation. Through mining, node sharing, cross-industry partnerships, and public chain development, it contributed to broader ecosystem growth.

👉 Learn how emerging blockchain platforms are driving real innovation in 2025.

Core Keywords

By combining deep industry experience with bold technological bets, Chen Gang positioned ETCWin not just as a trading venue—but as a blueprint for sustainable blockchain innovation grounded in openness and shared value creation.